5 Monthly Dividend Stocks with Over 5% Yield

4. Ellington Financial Inc. (NYSE:EFC)

Dividend Yield as of January 27: 10.29%

Number of Hedge Fund Holders: 10

Ellington Financial Inc. (NYSE:EFC) is a Connecticut-based real estate investment trust that invests primarily in residential and commercial mortgage loans, consumer loans, collateralized loan obligations, non-mortgage and mortgage-related derivatives, and equity investments, among others.

On January 7, Ellington Financial Inc. (NYSE:EFC) declared a $0.15 per share monthly dividend, in line with previous. The dividend is payable on February 25, to shareholders of record on January 31. Ellington Financial Inc. (NYSE:EFC)’s dividend yield on January 27 came in at 10.29%, making it one of the most notable monthly dividend stocks to invest in. 

Sheridan Capital and Ellington Financial Inc. (NYSE:EFC) on January 10 jointly announced a strategic partnership whereby Ellington Financial Inc. (NYSE:EFC) made an equity investment in Sheridan Capital, a player in originating commercial real estate bridge loans, to provide unique and creative loan products to the market. 

As of Q3 2021, Millennium Management, the largest stakeholder of Ellington Financial Inc. (NYSE:EFC), increased its stake in the company by 597%, holding a total of 1.15 million shares worth $21.1 million. Overall, 10 hedge funds were bullish on Ellington Financial Inc. (NYSE:EFC) in the third quarter.